Turkey would need to construct about a million new homes in the 10 provinces hit by the February 6 earthquakes, according to a property developer, signaling the massive rebuilding effort that needs to be undertaken.
“That’s an optimistic estimate,” Ekonomi newspaper cited Altan Elmas, head of the Association of Housing Developers and Investors, as saying in an interview. “Most of the buildings that still stand need to be demolished, too.”
Elmas estimated the cost of destroyed dwellings and infrastructure at $100 billion.
The tremors killed 36,187 people in Turkey while wounding more than 108,000, according to the latest death toll announced on Thursday. Thousands more died in neighboring Syria.
Photograph: Collapsed and damaged residential buildings in Hatay, Turkey on Feb. 13, 2023. Photo credit: Nathan Laine/Bloomberg
Related:
- Earthquakes in Turkey to Cost Insurers More Than $1 Billion, Verisk Estimates
- Global Reinsurers to Bear Bulk of Losses From Turkey-Syria Earthquake: Fitch
- Earthquakes Deliver Another Blow to Turkey’s Re/Insurance Industry: Reports
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